1952-09-29 — Page 9

Page

MESSAGERIES

M

"SAINT MARCOUF”

"PEI HO"

Arriving

THE CHINA MAIL, MONDAY, SEPTEMBER 29, 1952.

MARITIMES THE G.A.T.T. AND JAPAN

M

Leaving Outward For

#

Homeward for

....Oct. 20 ...Nov, 10

Oct. Nov. 21

Japan Зарин

Sept. 30 tet,

.Oct. 24 Oct. 26

4

N. Africa & Éatopa

N. Atèle & Europe

*"LA MARSEILLAISE" ..Bapt. 29 †"GRENOBLE”

+"FALAISE"

For passenger and freight:

Marselliks via Sàigón

† For freight to Salgon, Algiers, Oran, Tangler, Casablanca,

Havre, Dubidrk, Antwerp & Notterdam.

Accepting cargo:

-vla Marseilles to all Mediterranean & West Africa Ports. -via Djibouti to Madagascar.

Subject To Change Without Notice.

CIE DES MESSAGERIES MARITIMES

P.O. Box 53, Hongkong

Queen's Building (gr. floor)

EVERETT

Tel. 20851 (8 lines),

LINES

EVERETT ORIENT LINE

Fast cargo and passengers service refrigeration space available for Korea, Japan, China, Philippines, Indo-China, Siam, Malaya, Burma and East Coast Indian Ports.

"NOREVERETT”

- Arrives

Sails

Sept. 30 from Manila.

Oct.

1

Penang.

for Singapore, Rangoon & Calcutta,

"BRADEVERETT"

Arrives Sails

Yokohama

Oct. 8 from Singapore.

Kobe & Oct, 0 for (Accepting cargo for transhipment Kobe/Pusan and Kobe/Okinawa)

EVERETT STAR LINE

Fast cargo and refrigeration spaces available for Korea, Japan, China, Philippines, Indo China, Slam, Malaya, Ceylon, West Coast Indian and Persian Gulf Ports

FIRST CLASS PASSENGER ACCOMMODATION M.S. "STAR BETELGEUSE”

Arrives Sails

Oct. 0 Oct.

from Japan. @for

Singapore,

Port

Swettenham, Madras, Colombo, Bombay, Karachl Kharramshahr, Basrah Bahrein.

M.S. "NORDSTJERNAN”

Arrives Salla

Oct. 21 from Singapore,

Oct. 22 for Kobe & Yoliohama,

(Accepting cargo for transhipment Kobe/Pusan and Hobe/Okinawa)

&

EVERETT STEAMSHIP_CORPORATION...S/A............

Queen's Building, Telephone 31206. Chinese Department: Telephone 28293.

Havenga's

Mission

To London

Ta

London, Sept. 23. Mr N. C. Havenga, South African Minister of Finance, cue at Southampton icmorrow morning on his return, from the Fund Monetary International meeting at Mexico Cy and his financial tales in New York and Washington.

M: Havenga expects to spend cout a wcie In London before I:aving for Switzerland for talks with financial institutions there. He will then return to Pretoria.

While in London he will have discussions with Mr R. A. Butler, Chancellor of the Exchequer, and will make two broadcasts to the British people.

His first broadcast will be on. Tuesday night and Mr Havenga will outline the way in which he belloves Bouth African policies and attitudes should be evaluat ed in relation to the problem at hls Govern- contronting present ment,

on

His second breadcast will be Thursday evening and will refer to the recent meeting of International Monciary 1he

Fund. He will speak about his attempt to secure a higher price for: gold and of South Africa's present role in the world econo- iny as the chief gold-producing country, Reuter.

Rubber Futures

In S'pore

Singapore, Sept. 27. Prices of rubber futures closed

today as follows-

Number 1 rabber, per 1b.

October

November

December October

Number rubber,

7034-35

HONGKONG

SHARE MARKET

(From Our Correspondent)

Business done on the Stock Exchange this morning totalled $274,700. Nooo quotations and the morning's transactions:- SHARES BUYERS BELLERS BALES BANCS

HH, Bonk East Asta w INSURANCES

Union.76715 DOCKS, ETC.

K. Wharf.. N. PL Wharf 0.00 0.70 Dock Provident .. 42.50 Provident

(Na) Whecione

LAND, ETC.

HK Hotel... 35

•10K Land (0)

IK Land

S'hai Lond

UTILITIES.

NO

Tokyo Application For Membership On Agenda

Japan-Pakistan Trade Figures

Karachi, Sept. 28. Japanese raw material Imports from Pakistani during the 12 months end- 1 l June, 1982. totalled 237,700,000 Rupees, Com- merce Ministry sources declared.

calton accounted Raw for

Rupecs 211,700.000

jute purchases with reaching 23,100,000 Rupees. U. S. thiporta dúfing the kaime period were 70,800.- 000 Rupees, mesjły raw Jule, which totalled 37,- 200,000 Rupees.--Abotiai- od Presk.

Empire Experts' Decision

Expected

To Be

Admitted

Over British Objections

(FROM OUR OWN CORRESPONDENT)

London, Sept. 28.

One of the most important subjects on the agenda for the meeting of the members of the General Agreement on Tariffs and Trade which begins at Geneva next Thursday is Japan's application for membership.

Coming at a time when relations with the G.A.T.T. are under review in more than one capital, the prospective membership of such a strong trade rival ús Japan can hardly fail to have important repercussions.

This is not to say that the Japan ese application will be rejected. On the contrary, despite objections which are certain to be voiced in some quarters, it can be stated with confidence that Japan will eventually become a full member of G.A.T.T. on an equal footing with the other 37 countries represented at the Geneva talks.

There are two stages in

application country's

membership of G.A.T.T

If Britain maintains this at- fortitude she can use one of the escape clauses in the General

is Agreement on Tariffs and Trade to render the agreement nuli and vald as between herself and Jopati.

to

First, a simple majority necessary to decide whether the applicant will be allowed bolu tariff negotiations under the rules of the general agree- ment.

application

should

39

This could be done by refusing to enter into tariff negotia- if these negotiations aro tions with Japan, which would successfully conpicted, protocol automatically -entitle Japan to London, Sept. 28.

is drawn up and, when this is claim all the torit concessions Senior Commonwealth off signed by at Icast two-thirds of previously granted by Britain

present members, elale examining the Sterling the

the other G.A.T.T. countries. Area's problems here today sel applicant is admited.

uncertainly up three working parties.

But, though Japan's These parties are understood proceed more or less smoothly to the future relationship bo-

through these two stages.

tween the British Common- will to be discussing:

G.A.TT. and is question The

whether wealth financial current 1. The

G.A.T.T. itself will still exist in obviously inhibit the discussions situation and prospects of the

ils present form by the time at Geneve, this will not be Sterling Area..

membership becomes the only factor overshadowing 2. Short

effective, ntl goes

well Japan should become a contracting party by

end of next year. But be the fore then certain decisions may have been taken outside GATT. which will alter the whole purpose and meaning of the agreement.

and

Commonwealth

long-term development projects.

commoditics, 3. Policies on particularly raw materials,

The officials, some 50 finance and

economic experts,

began private falks here on Monday to prepare for the Commonwealth Prime Ministers' conference in. London in November.

are CX-

Japanese

the G.A.T.T. conference.

.

The

World's Wool Market

FUTURE TREND UNCERTAIN

New York, Sept. 28. The world wool market is in a healthy condition, the Journal of Commerce re- ported, but added: "Many elements that might have a bearing on supplies and prices are not yet fully clear to the trade."

U.S. POLICIES

commercial policies of; the United States are also under review.

President Trumen has called "Among these uncertainties," for a study of these policies the publicallon said, "are price and the report which emerges trends at Domlulen auctions from this will undoubtedly, In- during the next few months, de- fluence future United States mand for replacements by the relations with other textile industry here and abroad, countries, whichever party finds and the methods. Argentina will itself at the

head of the elect to dispose of an enormous Administration after the Pre-accumulation of wool at present

retained in that country." sidential election.

"Despite forebodings by In-

* EMPIRE TALKS Other discussiona

First of these decisions my trade three pected to last between

come out of the Commonwealth weeks and a month.

Prime Ministers' conference They, will then fly back to

which is due to begin before the their respective capitals to re-end of the Geneva meeting. port on their findings

One of the subjects down for various Commonwealth govern-discussion at this conference is ments.

the question of Imperial Pre- ference.

to the

The countries represented at the talks are Britain, Canada, Australia, New Zealand, South Africa, India, Pakistan, Ceylon and Southern Rhodesia. www Reuter.

Taipei Budget Expected To Show Deficit

Taipei, Sept, 28, An emergency session of the Chinese Nationalist Cabinet

1

ол

that

the

A fortnidable case has been built up against British ad- herence to G.A.T.T. on

thin grounds

it forbids country either to increase the existing tariff preferences to Commonwear countries or te grant new ones,

An influential group of Con servative back beachers are now demanding that Britain free herself from this inhibiting effect of her obligations under

G.AT.T.

Bernard Braine MP., ode of the chief spokesmen for the anti-

G.

G.A.T.T. group in the Conserva Uve Party, has recently pointed out that the Commonwealth forms a well-balanced economie unit.

NOT A BARRIER

dustry observers throughout the

world," the Journal continued, the Australian wool markets have apparently emerged from the first few sales with no worse public effects than a mild shaking

out"

Moreover the United States Trade Agreements Act, under which American tariff conces slons have been made, comes up for renewal in June, 1959.

And there is an important

of Americana section opinion which feels that United States tariffs have been reduced 43 far as they can be without harming domestic industries.

of

It has become clear, the business paper sald, that the buying pattern during the early STOCK EXCHANGE

sales was much the same as last and June; demand was broad Main feature of the stock competitive and was maintained markets this past week was the to a large extent by the short- continued decline of gilt-edged age of desirable apparel wools. prices.

European, British, Japanese and Although a parlat recovery | Australian mill demand wa took place towards the end of general and resulted in almost the week, losses of up to £2 complete clearance at most sales, were recorded in undated stocks. World demand for wool ap- the Fallure of the East African

pears be improving.

to

tha Loan gave point to the market's Journat said: "While the mar-- fears about the impact of the ket for wool textiles in major expectix Government financing consuming countries such as Britain and the United States Foamosa will be held, tomorrow Within Buchaut, be bend re-fencing operations,

The Exchequer uefcit hus continues slow," the newspaper do consider the new Nationalist Leves, there could be no more

"Inventories of added, instrument now assumed alarming pro- Budget.

various Before the meeting, an econo-effective long-term

building up trade and portions and this has heen types

apparel are slowly board com-for

than financed by increased Govern belag reduced. This must soon mic stabilisation

ment borrowing Irom the banks, entail replacement buying. posed of Nationalist Chinese and stimulating development

Effect of this has been to in~: dissatisfied American members will look into preferential tariffs,

BRITISH SHARE Those who are

wool consumption working of crease the banka' liquidity ratio "World the dareign currency aspects and points connected with United with the present

out that tariff to the level at which it stood during the first half of 1952 G.A.T.T. point States ald,

before last November's big was at an annual rate of 2,1 to the newspaper preferences are not necessarily a

funding operation.

billion pounds, clean basis, ac According China News, which quoted well- barrier 10 trade.

cording to the Commonwealth informed sources, the Budget,

Economic Committee.

Britain what presented to the Legislative

is expected to The all-edged mod upon to proximately

to procure Yuan, will show a deficit for the

60,000,000, pounds next fiscal year of about five per

therefore, soon be called upon to

Puring absorb not only several hundred for stockpile

BÉLG cent

They are also seen 49 а

milion Pounds of conversion the forthcoming The paper said the Nationalist

stock 06 a result of early indicating a total world Goverment was working on the stabilising factor inasmuch as

resumption of about 2.25 billion Polley that all they encourage bilateral and maturities but a further pounds, including that of the and

slice theory,

If the Government stock Le civilian trade, expenditure must be gauged by regional balancing of trade. the last cent available in terms The anti-G.A.T.T. group main-authorities decide, as they

"British operators are ex- that the restore been advised, to fund port tain, moreover, of gold and cash.

to buy chutiously at Cheng The Premier,

Chen, tion of our right to give or ex- the Government short-term debt, Arst however, due to the tender wan given a "draft of the new change preferences would not The weakness of the glit

staté óf that country's wool mean an end to G.A.T.T. since edged market lind Budget last Thursday-Reuler.

depressing textile market. While consump It would make no difference to effect on Industrial share prices, ton has improved, British 'wool agreements already reached with

The equity market also had to men have по intention of foreign countries for a redue-contend with the engineers

do

this stling

by purchasing of torists.

cision to ban all overtime and

high-priced wool- 20. Comparatively piece-work from November which

entali raising There

would was little activity in

prices of finished goods. the contmodity share markets.

"The samo

situation prevails Base metals were dull bat in the United States. Little Kamrs showed a better tendency buying by American mills has systems as indeed the United In response to Continental buy-boen noted at the Australian States already does in its trade ing interest.

markets so far and it is not with tho Philippines and Cuba.

expected place until users are reasonably sure a price plateau" has beci reached."

à ̈ ANGLO-SOVIET

CONTRACT

@ 4,00 @20.30

Britain

1920 1040 1000 0.30 Sovlet

J

0.40

**ram Star Ferry. 163 C. Light (0) 020 C Light (N),

Electric

1.20 Telephone. INDUSTȚUALS

Comen 17.30 Á711⁄2 500 er £40 STORES, ETC.

Dairy Watson

COTTONS

EWO

Londan, Sept. 20.

new has arrested

They can be used to encouraga trade to flow in particular direc tions and to stimulate the pre- duction and exchange of dear able commodities.

INEVITABLE EFFECT.

And, of course, there would bo no objection to other coun- utilising preferential

tries.

DEPRESSING EFFECT

of

have

Brazil Facing A Crisis?

of

parted

ap-

that this will take

The newspaper noted, how- ever, that the butlook for the wool textile market in the United States over the coming year is good. It also noted that Japan creasingly important, consumer of wool and has taked an active Interest' in the current Auälta-·

has

bacomo

Page: 9.7

ROYAL INTEROCEAN LINES

-IIIWANGI” -TILDANTIST*

BAILINGS

"STRAAT

MAKASSAI”“

Oct.

9.

"TEGELBERO" "TJIBOJAS”

Oct.

D

12

~NIDADANK" -TJILUWAD",

13

Det. 18

Ock 19

"VAN DEUTSZ" "STRAAT

MALAKKA *TASMAN"

#MAETHUTÉKER"

*TJIWANGI"

Oct. 21

Oct 72

Oct.

Nov.

"HUYA" "TJIPANAS" "THIBADANE”

"TAPONDOK"

Nov.

1

Nov.

Νου.

•

1

NOT,

2

Nby, to

"RTRAAT

MALAKKA "TJILUWAN"

*TEGELBEND": "YAN HEUTSZ” "TJÍKAMPER**

TJIWANGI"

Nov. 14

Kdy, 20

Nov. 22

Nă

TO

Haftarang,

#krabaik.'de, MACASAKE BAUKDADAN, - på Skrabalaj

Stdiḥrang,

DMkazia, Bolawan Dell, Bingam pare, E. B. Afties Mantin, P.. Poris, Djakarta, Binge- Poro, KTARËTEZUM, 8. Aftita & Mitmetics

Djakarta, Bemáting, Búrábala A

Jaban k

· MIDNAPORE.. Bjakarta, gematang,

* BUINDAIA. & REMORDIAL

Зарод

Зарал

Distle dadarang, Murākaja

„MATASKAY

Singapore, Djakarta & Fremantle Singapore, Djakarta. Hemarang.

Burádála Mataiskr

Japan

Јардл

Singapore. Maurillus, 8. Africa,

A. AmeriCK

Djakarta, Kermatang

AIRCASEST

Sursbaix

Mania, Bingapore & ́8, Africa,

匙

Singapore, Djakarta, Bemarang,

"Biltabala & Macakear

Japan

Bingapore, Djakeria & 'kislawen Deli DJakatla Beniarabg. Surabala

Mania, Slogapore, Msaridus,

Africa & 5. America

Bingaporey Djakarta, Semarang,

Gurabala & Macassat

Kurabala

B.

#

Bemarang

Semarang.

From

Djakarta,

Húraðila & MACASSRE

Bjakarta,

Surabala & 'Macaxior

NOY. 21

ber.

*

“TEGELDERG"

Dec.

TJIBODAS"

"TJILUWAH"

"BOISSEVAJN" "TJIWANGI"!

Dec.

14

Djakarta, Bemarang,

MACIELAX

Dee.

14

Singapore,

Dec. 30 Jan.

Заран

2

Bingapore,

ARRIVALS

Jakarta & Singapore

Oct. +

Japan

OCL

6

Oct.

+

Oct. 7

"TJIWANGI"

"TJIDANTJÉT" "TJLUWAH"

TEGELDERO"

*STRAAT

MAKASSAN"

In Port

Machair, Butabala, Sematan.

Djakarta,

Bincastor

Gemarang. strábala

8. Amèrica. 8. Africa, Matelitus, Bingapore, Bjakārta & Manla

Japan

•

TEL. 28015/18.

RING'S BUILDING, Ground Floor. CHINESE AGENTS: 88 CONNAUGHT RD. U, TELS. 31100, 20183

MAERSK LINE

FAST FORTNIGHTLY SERVICE TO: -

NEW YORK, BOSTON, BALTIMORE & PHILADELPHIA vis BAN FRANCISCO, LOS ANGELES AND PANAMA, NEXT SAILINGS

MS. "NICOLINE MAERSK" M.S. "ANNA MAERSK" M.S. "LEXA MAERSK"

Oct. 2 Oct, 16 Nov.

2

U.S.A.

Oct,

Oct. 18 Nov.

23 to

ARRIVALS FROM M.S.. "LEXA MAERSK” M.S. "LAURA MAERSK M.S. "LEISE MAERSK" For Freight and Further Particulars please apply to:-

AGENTS:

JEBSEN

-Pedder-Building.-

-Tel:-Nos, 36066-9,

patéh kisa rofàlion subject to change without notice.

At liberty to proceed via other ports to lond/discharge carro.

m.v. "LA MARSEILLAISE"

will sail for

MARSEILLES

via

MANILA, SAIGON, SINGAPORE, COLOMBO, DJIBOUTI, SUEZ & PORT SAID

on

Tuesday, 30th September, 1952 at 10 p.m.

Passengers are requested to board the vessel with their cabin baggage on the 30th September between 5 and 9 p.m.

Baggage room and 'Hold baggages will be registered at the Kowloon Godown No. 60 (No. 2 Gate, Canton Road Entrance) on the 29th September from 10 a.m. to noon, and from 2 to 5 p.m. and on the 30th September, from 10 a.m. to noon only.

No baggage will be registered after that time.

COMPAGNIE DES MESSAGERIES MARITIMES

Queen's Building

4214 purchases of about 200,000 tons of coarse grains from Russia's 1952 harvosta, diplomatie In-

These arguments will siguro formants sold tonight.

prominently in the Common¬ The deal is

is a short-term one wealth Prime Ministers' talks on

an Anglo trade policy. with It compact signed last year |

And the fact that these talka under which this country pur-will be going on while the GATT. countries are still in chased 1,000,000 tons of coarse

have its 'grülts from the Russians over

is bound to 371 1280 2008 17:40 8 12-month period, ending last session

effect on the Geneva discussions. inbau-Associated Press:

Now York, Sept. 20. Meanwhile Britain and the Colonies she represents at tho Trade sources in New York GAT.T. Walks-ate expected to report at Brazil. la fucking. oppose Japan mencanto no foto tant, shuning now of an ants. The Japanese art

probably note a

expected to purchase about difference' so far as the outcome imports for her industrialisation 600,000 bales of wool during the of Japan's application Is con- progrumble is not being matched current cerned tat it may have an im- by exports. portant, effect on future trado Bruell's debts to Brille Westeld the Journal, "re-

rejuvenation of Copies of the prescribed rapid relations between Japan, on the dermah, and American exporters that country's textile industry ane hand, and Britain and the now total about 3000,000,000, or which was thoroughly dislocated Forms 1(a). (b) and 1. (c) Colonies, on the outer,

Juring World War II."AS

10.10.10.40 20.90 27.20 590 6 20.70

2000 N 00.00

......13.245

| MISCELLANEOUS,

Yangiszo

4.80

2000 4.00

Exchange Rates

Business was done in the local unofficiat.

market morning at the following raten:-

Number runner, October basi M1934 | UB,, dollar, ipar, #1) comun

Number & Habiber, October 8214-

apot rubber, unbal

nanket precie

No. 1 pala crepe

this

Sterling note per 21) age 25 an **5)-7675 |Indonesian guilders (per 100)

08-103)

Blam ileals (per 100).

Bingapore (Stralis),

[120, plastras "(per 100)

3 DO

54,50

18.18

1185

Plant's Capacity Increased

ESCAPE CLAUSE

more than double the sum a year. ego, these source my.

·SCREON'S Brazil's gold ant foreign extimated at 1.9 bllon pounds, wool clip was

New York, Sept. 28. Reynolds Metale Company an nounced it has increased the enpacity of Ità Longview, Washington, aluminium reduc tion plant by 05 per cent. Thio It Iras been pointed out on chanto of clean basis, excluding South plant's capacity is now 100,000,- mord than uno accasion in the $447,000,000 at the begining of

part that while Britain already August, compared with $810- America, or about the same as 000 pounds annually. A

Price for

good The expansion hha boen ac exitenda; most favoured-hation 900,000 t year carlier, to Inst

Soms Sources belteva, how quality wools are expected to complished by an ingenitour en rights to Japan, the present gineering procem of stretch Covernment, like is prodécos ever, that Brok's probleme may be steddy, the Journal said, but ing" the plant's 372 pota with-or, has no desire to give a con- be casot later this year by sharp Argentina's selling policies inay out expending the Boor area of tractaul basis to this de facto Import curbs, and ades of coffee, affect prices of trombred types.

and cocoated Press, Associated Press, the operation Associated Press arrangement,

BUSINESS REGULATION

ORDINANCE

1952

Now On Sale at

5. C. M. Post, Ltd.

Hongkong and Kowloon

TEN CENTS EACH

Tel. 26651

THE

"POST" TYPHOON

MAP

Incorporaling amend mants › to thh, 'Lopal, and Non-Local term Bighal Codis.

Mounted $5.00. Unmounted $4.00.**

Obtainable' from t SOUTH CHINA MORNING POST, HONGKONG and: KOWLOON